As the UK government rapidly approaches the deadline to strike a deal with the EU Parliament to agree to terms on leaving the European Union, the impact on employees assigned to the EU should be carefully considered. Read about the impact Brexit may have on your global mobility program, and proactive planning you can do now.
Our friends at Global Tax Network (GTN) just published this article, "Brexit: deal or no deal? Proactive planning considerations for your global mobility program." Author David Livitt touches on immigration, income tax, business travelers, equity payments, social security and even the overall employee experience.
While the national referendum approving the UK's departure from the European Union was held in 2016, it is supposed to happen by October 31. As of now, a deal looks delayed and a no deal is still a possibility. What is certain, for now, keep planning and considering how your program might be impacted regardless of the result.
“But does it really matter to me, since Brexit is happening in the UK and my company is in the US?” Great question and a valid point. However, we urge US companies with mobile employees to consider a number of aspects that may impact their mobility programs in the UK and the EU. As we wait to hear the decision details, scheduled to be announced before October 31, here are a few points to consider so you can remain proactive with your mobile workforce in the UK and the remaining countries in the EU.